Grain Highlights 10.03.2022

FranceAgriMer has raised its forecast for soft wheat exports from France to non-EU countries to 9.7 million tons this season, which is 0.8 million tons more than the previous estimate.

- FranceAgriMer has raised its forecast for soft wheat exports from France to non-EU countries to 9.7 million tons this season, which is 0.8 million tons more than the previous estimate. Exports to EU countries remained unchanged at 7.8 million tons. The ending wheat stocks in France are projected at 3 million tons (3.6).

- Yesterday, commodity funds in Chicago were net sellers of 16,000 contracts of wheat, 20,000 contracts of corn and 10,000 contracts of soybeans.

- Authorities in China have set aside $250 million to support winter wheat farmers in the country. The crops are in very poor condition and government help will be needed.

- According to Oil World, the five largest soybean exporters in the world exported 10.4 million tons of soybeans in February (9.04 in January and 7.3 in February 2021). 6.3 million tons of soybeans (2.45 and 2.64) were exported from Brazil and 3.8 million tons from the United States (6.5 and 4.5). 5.9 million tons of soybeans were delivered to China (5.8 and 3.3). Over the period of September - February, total soybean exports from these countries reached 66.97 million tons (66.97), including 41.84 million tons from the United States (53.59) and 22.14 million tons from Brazil (11.1).

- According to GAPKI's forecast, palm oil production in Indonesia will reach 48 million tons in 2022 (46.9 last season). Exports will fall by 11.5% to 29.8 million tons. The ending palm oil stocks are expected to increase to 7 million tons.

- The Algerian state agency OAIC bought 600 thousand tons of wheat at the tender yesterday (mostly French and some Argentine) at a price around 485 USD/ton C&F.

- Tunisia has announced a tender on 11.03.2022 for the purchase of 125,000 tons of mill wheat and 100,000 tons of feed wheat. The previous tender was canceled.